Latest news with #RealEstateUnion
Al Bawaba
22-06-2025
- Business
- Al Bawaba
KIB hosts a panel discussion titled ‘Financing and Mortgages: Opportunities and Challenges'
Kuwait International Bank (KIB), represented by its Real Estate Department, held a panel discussion titled 'Financing and Mortgages: Opportunities and Challenges' in collaboration with the Department of Finance and Financial Institutions at the College of Business Administration, Kuwait panel, held recently as part of the ongoing collaboration between KIB and the College of Business Administration at Kuwait University, was moderated by Dr. Saad Al-Nahedh, Assistant Professor of Finance at the College. It featured Engineer Fahad Al Saleh, Manager of the Real Estate Advisory Division and the Product Development and Support Division (PDSD) at KIB's Real Estate Department, and Mr. Ibrahim Adeeb Al-Awadi, Chairman of the Real Estate Union and CEO of Aayan Real Estate this regard, Al Saleh reaffirmed KIB's commitment to strengthening its collaboration with Kuwait University, driven by its belief in the importance of promoting knowledge and equipping students with practical experience. He emphasized that this reflects the Bank's dedication to social responsibility and its leading role in the banking sector. Al Saleh also noted that such collaboration bridges academic studies with real-world application and plays a key role in empowering and preparing young people to enter the job market with confidence and panel explored the key challenges facing real estate financing in Kuwait, with a focus on the differences between residential and commercial financing in terms of repayment periods and profit rates. It emphasized the need for innovative financing solutions that can ease the financial burden on citizens, particularly also discussed the potential role of the proposed mortgage law in regulating the market and enhancing access to private residential plots. In addition, they highlighted ongoing public and private sector efforts, most notably by the Public Authority for Housing Welfare, to develop housing cities comprising more than 170,000 residential units. The panel also addressed the importance of establishing a regulatory framework for mortgage financing and advancing real estate developer projects to help balance supply and demand in the housing market, ultimately aiming to address Kuwait's broader housing the vital role of real estate developers in revitalizing the market by offering integrated property solutions that meet citizens' needs, the panel also emphasized the importance of enhancing public-private partnerships to advance legislation and regulatory frameworks that support a sustainable financing panel saw strong engagement from students and faculty members, who enriched the discussion with thoughtful questions about the future of the real estate sector in light of ongoing economic developments. It is worth noting that this initiative reflects the shared commitment of KIB and Kuwait University to social responsibility by advancing education, promoting knowledge, and supporting government efforts to provide comprehensive housing solutions, contributing to sustainability and enhancing community well-being in Kuwait.
Zawya
17-02-2025
- Business
- Zawya
Kuwait's government amends expats property ownership rules
KUWAIT CITY - Real estate and investment experts have praised the issuance of Decree Law No. 7/2025 amending the provisions of Decree Law No. 74/1979, which regulates non-Kuwaitis' ownership of real estate properties. These experts confirmed to the newspaper that the decision will contribute to the development of investment in the real estate sector, and achieve economic and social development goals in a way that benefits the local economy by attracting more foreign investments and providing job opportunities for Kuwaitis. The Real Estate Union said the decision was issued in appreciation of the nature of economic life, its variables and the dynamics of change it requires; thus, enabling it to address a sterile situation that has harmed companies listed on Boursa Kuwait, as it prevented them from owning real estate properties and engaging in commercial activities as per their founding contracts and basic systems. It added that the decision will solve this complex and important problem, and prevent damages and dire consequences. Head of the union Ibrahim Al-Awadhi revealed that listed companies in general, and real estate companies in particular, were unable to buy or sell real estate properties and transfer ownership through the Real Estate Registration Department at the Ministry of Justice due to the presence of foreign owners among their shareholders for the past five years. He said this is considered an unjustified disruption in their work and a clash with the reality imposed by previous laws that were not implemented at the time and a step backwards in the State's efforts to attract and encourage foreign capital to participate in such types of investments. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Arab Times
16-02-2025
- Business
- Arab Times
Gov't amends expats property ownership rules
KUWAIT CITY, Feb 16: Real estate and investment experts have praised the issuance of Decree Law No. 7/2025 amending the provisions of Decree Law No. 74/1979, which regulates non-Kuwaitis' ownership of real estate properties. These experts confirmed to the newspaper that the decision will contribute to the development of investment in the real estate sector, and achieve economic and social development goals in a way that benefits the local economy by attracting more foreign investments and providing job opportunities for Kuwaitis. The Real Estate Union said the decision was issued in appreciation of the nature of economic life, its variables and the dynamics of change it requires; thus, enabling it to address a sterile situation that has harmed companies listed on Boursa Kuwait, as it prevented them from owning real estate properties and engaging in commercial activities as per their founding contracts and basic systems. It added that the decision will solve this complex and important problem, and prevent damages and dire consequences. Head of the union Ibrahim Al-Awadhi revealed that listed companies in general, and real estate companies in particular, were unable to buy or sell real estate properties and transfer ownership through the Real Estate Registration Department at the Ministry of Justice due to the presence of foreign owners among their shareholders for the past five years. He said this is considered an unjustified disruption in their work and a clash with the reality imposed by previous laws that were not implemented at the time and a step backwards in the State's efforts to attract and encourage foreign capital to participate in such types of investments.
Al Bawaba
16-02-2025
- Business
- Al Bawaba
KIB and the Real Estate Union host a workshop on digital transformation in the real estate sector
Kuwait International Bank (KIB), in collaboration with the Real Estate Union, organized a workshop titled "The Digital Transformation Revolution and Its Impact on the Real Estate Market." The event brought together a distinguished group of investors, experts, specialists in the real estate sector, and government workshop explored key topics, including inspiring success stories in PropTech (property technology), the impact of digital transformation on Kuwait's real estate market, and the role of emerging technologies such as artificial intelligence, big data, and digital real estate services. It also addressed challenges faced by real estate investors and proposed solutions to enhance transparency and data workshop featured the launch of KIB's innovative digital services through the KIB Aqari app, underscoring the Bank's commitment to developing modern solutions that cater to investors' needs. These services include the construction cost calculator for residential plots in the banking sector, and the first digital real estate financing calculator for investment and commercial projects. Additionally, KIB shed light on its real estate appraisal services, the comprehensive real estate database providing accurate market insights to support investor decisions, and a fee-free digital rent collection service designed specifically for property on the initiative, Jassim Al-Abdulhadi, General Manager of the Real Estate Department at KIB, stated: "The launch of these services aligns with our ambitious strategy to develop digital banking solutions for the real estate sector, aimed at enhancing transparency, improving efficiency, and enabling investors to access data more quickly and accurately. We are committed to crafting innovative solutions that elevate Kuwait's real estate market and cater to the needs of both investors and users."From his side, Ibrahim Al-Awadi, Chairman of the Board of Directors of the Real Estate Union, stated: "There is no doubt that digital transformation has become an urgent necessity in the real estate market, as it enhances the business environment, streamlines processes, and strengthens trust between investors and real estate developers. This workshop highlights the importance of adopting modern technology to ensure the sustainability and growth of Kuwait's real estate sector."In his turn, Fahad Al Saleh, Manager of the Real Estate Advisory Division and the Product Development and Support Division (PDSD), elaborated: "Digitizing real estate services enhances efficiency, reduces risks, and increases transparency—key objectives we aim to achieve with KIB's newly launched services. We are committed to delivering advanced technological solutions that empower real estate investors with the tools they need to make informed decisions, ultimately boosting the attractiveness of Kuwait's real estate market." The workshop concluded with practical recommendations for public and private sector entities, including proposals to enhance the real estate sector's digital infrastructure and strengthen collaboration between the public and private sectors in developing and leveraging technology for real estate services. These efforts aim to improve investor access to reliable, transparent data, ultimately enhancing the attractiveness and sustainability of Kuwait's real estate market.
Arab Times
15-02-2025
- Business
- Arab Times
KIB and the Real Estate Union host a workshop on digital transformation in the real estate sector
KUWAIT CITY, Feb 15: Kuwait International Bank (KIB), in collaboration with the Real Estate Union, organized a workshop titled "The Digital Transformation Revolution and Its Impact on the Real Estate Market." The event brought together a distinguished group of investors, experts, specialists in the real estate sector, and government agencies. The workshop explored key topics, including inspiring success stories in PropTech (property technology), the impact of digital transformation on Kuwait's real estate market, and the role of emerging technologies such as artificial intelligence, big data, and digital real estate services. It also addressed challenges faced by real estate investors and proposed solutions to enhance transparency and data accessibility. The workshop featured the launch of KIB's innovative digital services through the KIB Aqari app, underscoring the Bank's commitment to developing modern solutions that cater to investors' needs. These services include the construction cost calculator for residential plots in the banking sector, and the first digital real estate financing calculator for investment and commercial projects. Additionally, KIB shed light on its real estate appraisal services, the comprehensive real estate database providing accurate market insights to support investor decisions, and a fee-free digital rent collection service designed specifically for property owners. Commenting on the initiative, Jassim Al-Abdulhadi, General Manager of the Real Estate Department at KIB, stated: "The launch of these services aligns with our ambitious strategy to develop digital banking solutions for the real estate sector, aimed at enhancing transparency, improving efficiency, and enabling investors to access data more quickly and accurately. We are committed to crafting innovative solutions that elevate Kuwait's real estate market and cater to the needs of both investors and users." From his side, Ibrahim Al-Awadi, Chairman of the Board of Directors of the Real Estate Union, stated: "There is no doubt that digital transformation has become an urgent necessity in the real estate market, as it enhances the business environment, streamlines processes, and strengthens trust between investors and real estate developers. This workshop highlights the importance of adopting modern technology to ensure the sustainability and growth of Kuwait's real estate sector." In his turn, Fahad Al Saleh, Manager of the Real Estate Advisory Division and the Product Development and Support Division (PDSD), elaborated: "Digitizing real estate services enhances efficiency, reduces risks, and increases transparency—key objectives we aim to achieve with KIB's newly launched services. We are committed to delivering advanced technological solutions that empower real estate investors with the tools they need to make informed decisions, ultimately boosting the attractiveness of Kuwait's real estate market." The workshop concluded with practical recommendations for public and private sector entities, including proposals to enhance the real estate sector's digital infrastructure and strengthen collaboration between the public and private sectors in developing and leveraging technology for real estate services. These efforts aim to improve investor access to reliable, transparent data, ultimately enhancing the attractiveness and sustainability of Kuwait's real estate market.
